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In December, Beijing´s commerce ministry said China and the USA "made new progress" on the issues of trade balance and intellectual property -one of the main sticking points of the trade dispute - during a phone call between officials from the two countries.

President Donald Trump said Friday he is confident Washington and Beijing will reach a deal to bring to a close the months-long trade dispute that has roiled global financial markets. USA president Donald Trump has threatened a sharp hike in U.S. tariffs on Chinese goods if China didn't yield to his requests.

Deputy US trade representative Jeffrey Gerrish will lead the American delegation, China's Ministry of Commerce said.

"The trade tensions between the United States and China put additional pressure on their economy", Cook said in an interview with CNBC Wednesday.

A United States delegation is due to travel to Beijing to hold negotiations Monday, but Trump said he and Chinese leader Xi Jinping already have been actively engaged in the talks.

The manufacturing sectors in both countries have been hit by the trade dispute, and Apple shares dropped sharply after reporting steeper-than-expected "economic deceleration" in the last quarter in China - one of its largest overseas markets.

Beyond iPhones designed in California, engines made in OH or soybeans grown in Iowa, the trade issue the U.S.is pursuing is the protection of American technology in China. "And if we don't, they're paying us tens of billions of dollars worth of tariffs - not the worst thing in the world". "I think there are a heck of a lot of USA companies that have a lot of sales in China that are basically going to be watching their earnings be downgraded next year until you know we get a deal with China".

On December 1 the two leaders agreed to complete talks about technology, intellectual property and cyber theft issues within 90 days, and hold off on new tariffs in the meantime.

USTR said the U.S. delegation would also include under secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House. They complain China's companies are treated unfairly in national security reviews of proposed corporate acquisitions, though nearly all deals are approved unchanged. The investment bank UBS said Friday that 37 percent of 200 manufacturers surveyed said they have shifted out of China over the past 12 months.


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